Optima Health Regulatory News (OPT)

10 Apr 2007 17:11

Ocean Power Technologies Inc10 April 2007 ------------------------------------------------------NEWS RELEASE------------------------------------------------------ Ocean PowerTechnologies, Inc 1590 Reed Road Pennington, New Jersey 08534 USA April 10, 2007 OCEAN POWER TECHNOLOGIES FILES AMENDED US REGISTRATION STATEMENT Ocean Power Technologies, Inc. ("OPT" or the "Company") (London Stock Exchange:AIM-OPT), announced today that it has filed with the United States Securitiesand Exchange Commission ("SEC") an amendment to its registration statement forits proposed US public offering. The amendment may be accessed on the SEC'sEDGAR database on its Internet website at http://www.sec.gov. The Company is proposing to issue 5,000,000 shares of common stock at anestimated price range of $20.00 to $22.00 after giving effect to a one-for-tenstock split to be effected prior to the offering. The underwriters have anoption for a period of up to 30 days to purchase up to 90,000 additional sharesof common stock from the selling stockholders and up to 660,000 additionalshares of common stock from OPT to cover over-allotments. A registration statement relating to the securities proposed to be sold in apublic offering of the Company's common stock in the US has been filed with theSecurities and Exchange Commission but has not yet become effective. Thesesecurities may not be sold nor may offers to buy be accepted prior to the timethat the registration statement becomes effective. This press release shall notconstitute an offer to sell or the solicitation of an offer to buy nor shallthere be any sale of these securities in any state or jurisdiction in which suchoffer, solicitation or sale would be unlawful prior to registration orqualification under the securities laws of any such state or jurisdiction. About Ocean Power Technologies Ocean Power Technologies, Inc. develops and is commercializing proprietarysystems that generate electricity by harnessing the renewable energy of oceanwaves. The Company's PowerBuoy(R) system is based on modular, ocean-going buoys,which have been ocean tested for nearly a decade. For further information, please contact: Ocean Power Technologies, Inc Telephone: +1 609 730 0400Dr. George W. Taylor, Chief Executive Officer Telephone: +1 609 730 0400Charles F. Dunleavy, Chief Financial Officer Corfin Communications Telephone: +44 20 7929 8989Ben Hunt, Neil Thapar This information is provided by RNS The company news service from the London Stock Exchange